Sometimes brand-new technology in manufacturing reduces the time that a worker takes to complete a task. Technological innovations can also completely replace a manufacturing facility worker. Walk this typical that technological progress will lead to large unemployment?
No, part sectors might experience unemployment as a result of the advancements but overall productivity and incomes will increase, top to much more employment opportunities.
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When wages increase, the opportunity price of not working increases, leading people to seek more work hours.
Which the the complying with is not one of the factors that deserve to increase wage rigidity in the labor market?
it takes time because that applicants come prepare a resume and also line increase references.,firms and workers have imperfect information around the state the the economy., the takes time to uncover what work are accessible in a specific field.
The worker used for a high - paying jobs that the is no qualified for, but has now started applying for are sluggish to set up interviews and make decisions.
The worker invested a the majority of time composing his resume and searching because that jobs, yet the work that be is applying for are slow-moving to collection up interviews and make decisions.
The worker is a new college graduate and also cannot find a task that ideal matches his skill, for this reason he is slowly expanding his find efforts.
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The worker passed on plenty of job provides that did not seem interesting enough for the in the hopes of finding the perfect job.
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